Building activity has dropped to its lowest point in over a year... Temperature may drop, but market activity won't, says franchise head...
Construction activity hits 13-month low
Building activity has dropped to its lowest point in over a year due to weakness in home building and less work opportunities for engineers, according to The Sydney Morning Herald.
The Performance of Construction Index fell 0.2 points to 45.2 in March, remaining below the 50-point level separating expansion from contraction.
Ai Group head of policy Peter Burn warned a potential turnaround in the near future didn't seem likely.
"With new orders across the sector also falling, the immediate outlook for construction is for further contraction," Burn said in a statement on Thursday.
"It is unlikely that a pick-up in conditions in other sectors will fully offset the contraction in mining investment over the next few years," Housing Industry Association economist Geordan Murray said.
"But we need to give non-resource businesses the best possible chance. Bolstering business confidence is the key."
Temperature may drop, but market activity won't, says franchise head
Rental market hit by first annual fall on record Melbourne back to the fore as auction volumes rise Debt perception: Aussies lose sight of financial security due to lack of edcuation
The head of one of Australia’s biggest real estate franchises believes the Australian property market will remain relatively active through autumn 2016.
Angus Raine, executive chairman of Raine & Horne, believes a combination of the upcoming federal election and the end of the financial year will see continual movement from buyers and vendors.
“With the end of the tax year fast approaching, many investors and self-managed super funds will be weighing up whether to rebalance in or out of real estate assets and will act well before the June 30 cut-off,” Raine said.
“Throw in the threat of a July Federal Election and we expect appraisal, listing and sales numbers to hold their ground in the lead up to the end of the financial year,” he said.
Building activity has dropped to its lowest point in over a year due to weakness in home building and less work opportunities for engineers, according to The Sydney Morning Herald.
The Performance of Construction Index fell 0.2 points to 45.2 in March, remaining below the 50-point level separating expansion from contraction.
Ai Group head of policy Peter Burn warned a potential turnaround in the near future didn't seem likely.
"With new orders across the sector also falling, the immediate outlook for construction is for further contraction," Burn said in a statement on Thursday.
"It is unlikely that a pick-up in conditions in other sectors will fully offset the contraction in mining investment over the next few years," Housing Industry Association economist Geordan Murray said.
"But we need to give non-resource businesses the best possible chance. Bolstering business confidence is the key."
Temperature may drop, but market activity won't, says franchise head
Rental market hit by first annual fall on record Melbourne back to the fore as auction volumes rise Debt perception: Aussies lose sight of financial security due to lack of edcuation
The head of one of Australia’s biggest real estate franchises believes the Australian property market will remain relatively active through autumn 2016.
Angus Raine, executive chairman of Raine & Horne, believes a combination of the upcoming federal election and the end of the financial year will see continual movement from buyers and vendors.
“With the end of the tax year fast approaching, many investors and self-managed super funds will be weighing up whether to rebalance in or out of real estate assets and will act well before the June 30 cut-off,” Raine said.
“Throw in the threat of a July Federal Election and we expect appraisal, listing and sales numbers to hold their ground in the lead up to the end of the financial year,” he said.
